Mexico to rebid high-speed rail contract

The Mexican government announced on Sunday that it will reopen the bidding process for a $3.75 billion high-speed rail contract that it had canceled in November.

The government had revoked a single-bid contract it had granted to a consortium led by China Railway Construction Corp. The decision followed an outcry from some Mexican lawmakers after the government announced on Nov. 3 that it would award the contract to the consortium, which was the only bidder.

Mexico's Transportation Ministry officials said they will publish preliminary terms for the new contract on Jan. 14. Forbesreported earlier this week that China Railway Construction likely will bid on the contract again, and cited a Reuters report that Alstom SA and Bombardier Inc. also are interested in bidding.

The proposed project involves construction of a 130-mile high-speed rail line between Mexico City and Queretaro. The contract would cover the line's construction and five years of operation.